Saturday, January 17

My Frugal Miser - Reviewing My 2014 Goals.

I failed in 2014.  I set four goals, but I only achieved one of them.  I did make progress on each, and am glad that I lost weight last year, even if it was only 5 pounds.

  • #1:  Lose 12 pounds.  I ended the year at 229 pounds, which means I only lost 5 pounds.
  • #2:  Increase net worth by $75,000.  That was too lofty, but my net worth increased respectfully.
  • #3:  Spend less than $20,000.  What I did not plan for was beginning a major remodel for the house I bought at the end of June.  Taking no exclusions for that, we spent more than $53,000.  If you leave out the remodeling costs, we were around $31,000 in spending last year.
  • #4:  Take an international trip.  Accomplished.  We spent three weeks in Ecuador in September. 

Review My 2013 Goals Here.
Review My 2012 Goals Here.
Review My 2011 Goals Here.

Thursday, January 15

What a $1,250 per month Budget Looks Like

My 2015 goal is to spend less than $1,250 on everything except vacations and home repairs.  In Florida, a person earning minimum wage at a full-time job would earn $16,100 ($1,342/month).  They would most likely quality for less expensive health insurance under the Affordable Care Act, as well as other assistance like food stamps, the earned income tax credit, etc.  My goal is to support two people on less than I would earn in a minimum wage job.

I don't track my spending against a fixed budget, but below is an estimate of how I will be spending my money.

Budget:  $1,250 per month

Auto, including gas, depreciation, insurance, and service:  $350
Bank Charges:  $25
Clothing:  $50 (2x what I have spent in the past, but it's time to replace some worn out clothes)
Entertainment:  $100
Food:  $270
Gifts Given:  $15
Health and Dental Insurance:  $150
Additional Spending on Health and Dental:  $25
Miscellaneous:  $65
Personal Care:  $10
Taxes:  $40
Utilities:  $150